- Russel 2000 Four hour chart.
- Price has gone above resistance level of 855. After breakout price is retesting this level.
- Price sustaining above 855 will be bullish for Russel 2000.
- Range from which the breakout happened was about 40 points. Weekly close above 855 may take Russel 2000 to 890 and above in the short term.
- Price sustaining below 855 will favor bears.
- ES Four hour chart shows main support for ES now between 1336 - 1338 level.
- Price closing below the above mentioned level will be negative for bulls.
- Price is trending up above 50 Hour moving average. Price dipping towards this Moving average can be used to go long again.
- AMAZON Daily chart has given a breakout.
- Volume has also spiked above the daily average volume.
- Week chart was trading in a range of 160 - 190.
- Price has violated this range. If Week closes and sustains above 190 Amazon will TARGET 215 and above in the coming weeks.
- Price falling below 190 will be negative for the bulls.
- SLV CHART ANALYSIS
CHART-II
- Nifty Closed below the support line.
- We may see nifty moving towards the lower end of the range before going up.
CHART-I
- Nifty has violated the support line in hour chart.
- Now Bulls has to hope that this is a false break below the support line.
- Reliance has broken the important support at 1000. This number was between 50 and 200 day moving averages which makes it more important.
- As shown in the 2nd chart Break below and above 20 DMA has given nice trending moves recently. so this should work again But have the trailing stop in place.
- We discussed about selling the stochastic in weekly chart, This has worked and the profits for bears might extend if price sustains below 1000 level.
- RLEIANCE SELL THE STOCHASTIC
- AAPL Daily chart with 50 day moving average.
- Price is consolidating above 50 DMA. If continue to stay above 50 DMA price will give hope for bulls
- Daily candle closing below 50 DMA will favor bears.
- Hour chart of GOLD has give a breakout above recent high of 1518 level.
- Hour was forming a range from 1492 - 1518.
- This breakout should give more than 20 points for gold which should take it passed 1535 level in the short term.
